Tax-Managed Investing Solutions

¹ U.S. LEGACY INCOME TRUSTS®

The Trusts are pooled income funds described in Internal Revenue Code Section 642(c)(5) established in 2022 by the Gift Trust as part of the Gift Trust’s U.S. Legacy Income Trust program, which it established in 2019. Eaton Vance Management (“Eaton Vance”) is the sponsor of the Trusts and the Gift Trust. Affiliates of Eaton Vance and Morgan Stanley serve as trustee and investment adviser of the Trusts and the common trust fund in which the Trusts invest, trustee of the Gift Trust, and placement agent for the Trusts and the Gift Trust. Eaton Vance is located at One Post Office Square, Boston, MA 02109. Ren (Administrator), a charitable gift services administrator not affiliated with Eaton Vance or Morgan Stanley, is the administrator of the Trusts and the Gift Trust. The Administrator is located at 8910 Purdue Road, Suite 500, Indianapolis, Indiana 46268. The compensation payable by the Trusts to affiliates of Eaton Vance, Morgan Stanley and the Administrator is set forth in the applicable Information Statement. Each Trust being offered follows the same investment strategy, investing through the same common trust fund. The Trusts differ by minimum initial contribution amount, annual fees and expenses, and applicable service arrangements as described in the Information Statement. Certain of the currently offered Trusts include compensation payable to registered broker-dealers, registered investment advisors or other entities acceptable to the Trustee designated by Donors for providing advice and assistance to Donors and the income beneficiaries they designate. See the Information Statement for details. All Trust activities and the participation of Donors and income beneficiaries in the Trusts are subject to the requirements of state and federal law, the terms and conditions of the Trusts’ Declarations of Trust, the current Information Statement and the completed Application submitted by each Donor. The board of directors of the Gift Trust. (Board of Directors) reserves the right to modify the Trusts’ program at any time, subject to the provisions of the Trusts’ Declarations of Trust, and state and federal law. Any contribution to a Trust, once accepted by Eaton Vance Trust Company (Trustee), represents an irrevocable commitment. Contributions cannot be rescinded or changed, and are subject to the exclusive legal control of the Trust, the Trustee and Board of Directors. Donors to the Trusts should be motivated by charitable intent. As charitable giving vehicles, the Trusts should not be treated as, and are not designed to compete with, investments made for private gain. Intention to benefit the Gift Trust and one or more qualified charitable organizations eligible for support by the Gift Trust should be a significant part of the decision to contribute to a Trust. The tax consequences of contributing to  a Trust will vary based on individual circumstances. Prospective Donors should consult their own tax advisors. Nothing in this brochure should be construed as tax advice. Distributions to income beneficiaries are not guaranteed by any party, and are subject to investment risk. In considering potential changes in annual distribution rates, the Trustee will assess the Trusts’ long-term earnings potential and seek to balance the interests of current  and future income beneficiaries and the charitable remainder interests. Neither the Trusts nor the Gift Trust has been registered under federal securities laws, pursuant to available exemptions. Neither the Trusts nor the Gift Trust is guaranteed or insured by the United States or any of its agencies or instrumentalities. Contributions are not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of, or guaranteed by, any depository institution. Eaton Vance Distributors, Inc. is a paid solicitor of the Trusts and the  Gift Trust, receiving compensation as described in the Trusts’ Information Statement and the gifting booklet of the Gift Trust’s  donor-advised funds.